$ETH back at $3.2K — resistance or base? 📊

#Ethereum trades at $3,212, but the market remains cautious.

Key data points:

📉 ETH failed to hold above $3,300 multiple times in the last 60 days

🔄 DEX activity cooling: 7-day ETH #DEX volume ~$9B, down 65% from October

💸 Network fees collapsed 87% in 3 months ($21.3M → $2.6M)

What’s holding ETH back?

Layer-2s drive most activity, while cheaper L1 rivals compete for users

Broader crypto market weakness + US macro uncertainty

No clear catalyst for a sustained move toward $4,000

Still, Ethereum dominates:

🏦 ~50% share of DEX activity (ETH + L2s)

🔒 Leading TVL, signaling institutional preference

🧩 Rollup-first scaling keeps fees low by design

👉 Does $3.2K flip to support, or is ETH stuck in range?

Source: Cointelegraph